Common use of Credit Facility/ Exposure Limits Clause in Contracts

Credit Facility/ Exposure Limits. If you are approved for Credit Facility, we will settle to your account on the effective date (an “Effective Entry Date” as defined in the ACH Rules) of the items originated. Along with Credit Facility Service, as part of our internal risk control procedures will determine ACH credit exposure limit(s) for all ACH customers. ACH debit exposure limit(s) are also established for customers approved by us for originating Debit Entries. These ACH exposure limits can include, but are not necessarily limited to: (i) total dollar value of individual ACH files transmitted to us; (ii) dollar value or number of individual ACH Entries within each file; (iii) frequency of origination of ACH files; and (iv) consideration of total exposure to us over multiple settlement dates related to all unsettled files originated by you. You agree that your ability to originate Entries is subject to exposure limits set by us. You agree to comply with the exposure limits we establish for you from time to time. You understand and agree that any file or file Entry received by us that would exceed any of the exposure limits established for you may, in our sole discretion, be delayed or rejected, and we will have no liability to you for any damages or losses you may incur arising from our election to delay or reject such files or Entries.